em that's all for this edition of "dateline". i'm craig melvin. thank you for watching. [music playing] ♪ hello. welcome to "street signs." i'm mandy drury with frank holland. here are the headlines this hour. we look to wednesday's inflation print and jamie dimon warns inflation may be prove trouble than expected. and atos lays out the terms of the financing framework with fresh cash to tide it over to

2025. and ether is looking to see etf applications approved soon. we will talk the crypto landscape with the ceo of the coin coming up. good morning. thanks for joining us on the show. let's look at the heat happen wh map here behind me. you have the stoxx 600 on the back foot right now retreating from what was a good day yesterday in the markets. the european market now is still not far from the record highs despite the little bit of give back we are seeing so far today. i guess you could say we are in a holding pattern. not only do we have the really important cpi print from the

united states this week, which after january and february, everybody is up in arms with what is happening with rates. we have been from six rate cuts priced in to maybe if we are lucky two. of course, that cpi print will make all the difference here and we have the ecb in our neck of the woods which is something we are looking forward to as well. just a little bit of wait-and-see going on in the markets. you have the ftse 100 holding above water trying to get the snorkel above and do breathing. bp is helping to support the uk market today. it came out with positive comments about the first quarter and bp is moving higher in trade today. the smi is on the line. not wanting to make any conviction in any direction. the dax is moving to the down

side by .50%. we got the stronger than expected industrial production adding to the global optimism about manufacturing bottomed and things could get better from here which is why metals have been on a tear. the german market is moving to the down side along with .3% for the cac 40 in france. let's look at the sectors and get into the nitty gritty here. basic resources up 1.2%. copper at a 14-month high. iron/ore is being tough of late with the chinese property woes. iron/ore is up in the u.s. that is on the hopes we could get good measures supporting the chinese steel industry and aluminum moving to the upside. we will talk more about that

later on in the show. oil and gas is support .70%. bp is the major oil which is doing nicely in trade. let's look at the lower side. real estate is under water by .7% and same for travel and leisure as they say in the united states. let's look at the u.s. futures. similar to last night which was a mixed picture by the close. as i say, in a wait-and-see pattern, frank, ahead of the cpi from the united states. it looks like the implied open is suggesting the same. back to you. >> you said a lot of anticipation for the cpi report. we hear from jpmorgan chase's ceo jamie dimon. he is looking to say inflation is deeper than expected. dimon said the growing need to increase spending in sectors and large amounts of deficit

sending. jamie dimon said the bank has plans for rates as high as 8% and as low as 2%. we hear from the minneapolis fed president neel kashkari said they have to get back to 2% target warning the credibility is now at stake. >> we built up a lot of credibility going into the shock. we are seeing the high inflation, but we believe the fed is serious about getting it back down. that helped us get back down, but we have to go all the way. if we stop short, you will say they will stop short next time. >> and analysts are looking to cut bets. futures contracts for december now point to 60 basis points of cuts this year. that is down from 150 basis points slated at the start of the year. traders are split over when easing will split with the fmoc standing at 50% for the june

meeting. the consumer inflation is s stabiliz stabilizing. concerns over debt payments are starting to rise. americans see inflation at 3% in a year from now with the three-year outlook at 2.9% and the five-year forecast is at 2.6%. 13% of those surveyed express concern over missing debt payments. our next guest says the ecb is looking for a june cut. skyler montgomery koning is joining us now. good to see you. >> thanks for having me. >> what are the factors you are looking at here? you stated it was the rising dollar. what does that say to the fed? >> that impact you have seen is largely a reflection of what is happening in the economy.

for 2024, growth and inflation has wrisrisen. in contrast, it was the opposite in europe. that has been reflected and a similar view for the ecb and fed which is not right in terms of prior growth and inflation, you should have a more hawkish outlook. the ecb should be a little more dovish. >> you are pointing to the higher growth. something we will talk about later in the show is the rising in commodity prices which can be inflationary. is the ecb and fed watching that? >> absolutely. they are watching it. they are worried about inflation being sticky and it is not just commodity prices. it is commodities and shipping disruption. on the services side, the worry is wage inflation. for the u.s., they heare worrie about the trend growth.

it has come down, but it has gotten sticky at 5%. the u.s. is worried on the demand side. for europe, it is less of a worry with the demand side because the ecb squeezed the economy more. i think they would be worried from the supply side because that is not something they have an impact on. >> skylar, so many noted the lack of volatility in the forex market. they depend on those moving and shifting between the regions. when do you think the boe will start moving considering the hawks have been falling out of the sky. >> the last meeting we got from the bank of england is a move to the dovish side. you no longer have members voting for a hike. that move will shift. you have seen the inflation come down dramatically.

a year ago, no market participant was looking for cuts from the bank of england. that changed because the inflation outlook has come down. actually in the second quarter, you expect inflation to undershoot the bank of england. you could get cuts as early as june. that's what the economy is telling you. >> i don't think anyone is expecting any further hikes from the boj soon. what do you think they might do old intervention front, s skyla? we play have been getting more jaw boning from the governor there. does the break necessitate intervention or not necessarily? >> i think the struggle is the intervention which is them talking down the currency. you can have fx reserves to

supporting the yield target. you can't continue selling. there is a limited amount of fx. history tells you that doesn't get you a sustained appreciation in dollar/jpy. they are trying to hold the line until you get the turn and the dollar/yen is when you get fed cuts which is being pushed out. >> what is your take on the strong growth from the u.s., but globally? we continue to see growth continue in the higher rate environment. how much is tied to the idea we will get cuts at some point whether it is the ecb or u.s. or the bank of canada considering cuts coming up later this week? >> i think it is tied to that. we are getting a global growth bottom. i think that's important and led by china and led by the stimulus there. we are seeing manufacturing r reb rebound. that is a trying factor.

for us, some of the economies like europe and the uk, you can't see a significant rebound in 2025 unless you get cuts. you need loosening to build demand and a rebuilding of the supply side and you don't get the same inflation pressure. we worry if they don't cut, you would have high inflation. >> we have been talking big picture, but in the near term with the cpi print around the corner and the january and february prints were stronger than expected, is there a capacity for this print to take the cuts completely off the table? >> i don't think it takes it off the table. for the fed, what they have said, they are data dependent. we had two months of upside inflation surprises after a year of down side inflation surprises. that makes it much harder to cut. there are a few more inflation prints that we get before the june meeting or the july meeting. it does make it hard to cut

closer to now, but it doesn't mean you can't cut at all. especially because we think the disinflation are getting the bu road because of the volatility. >> i want to stick with the geo he polit geopolitical issues. janet yellen in china. that is a big manufacturing hub. some people are calling it decoupling. the demands with china and the u.s. how do you see that impacting the global economy going forward? >> we think of it as a regionalzition. our countries are more likely to trade with their allies or do more at home. that is trying to inflation in the long term.

we see 3% inflation to 2.5% inflation is the range going forward. 2% inflation is more of a floor than a ceiling. the idea of not having the same level of traders and not having the same kind of ability to import goods cheaply from china as we did historically. >> many said inflation has shifted upwards. thank you so much for joining us. skylar manaontgomery koning. let's talk with cryptocurrency. ei ethereum has been up this week and this is expected to have the next etf green lit. it is slightly down right now, but look at that, frank, over the last two months. >> that is a chart you have to look at here. one thing that is a tailwind for

ethereum is the halving of bitcoin in the coming days. a lot of money coming into the space. i think when it comes to bitcoin is the use case. ethereum is a different story. a lot of applications built on ethereum. this seems to make more fundamental sense. the addition of the etf allows more institutional and retail investors to pour money in. >> you can catch up to bitcoin. if you look at the chart, over the past 12 months, it is up by 100%. most of those gains have been in the last four months. actually, it has been a bumpy ride. >> it has been interesting when you talk about cryptocurrency and the connect to rate cuts. some people thought rate cuts is another catalyst for cryptocurrency. as we continue to see the idea of viewfewer and fewer in the ud states, the base case is zero.

one is the first to say we are not getting any cuts. a bit of a pull back in april. you don't keep going straight to the top. some people want to take money off the table. >> you would be worried if it keeps going up. arjun spoke to the coinshare ceo earlier this morning and asked if he expect to get approval for the ethereum etf this year. >> we and ark, cathie wood, are the first to be rejected. >> you don't expect the s.e.c. to approve? >> no. the way the legal process goes is the regulators give you comments on the application and that happens for weeks before the bitcoin etfs. right now, pins are dropping as far as ethereum. >> our view is similar to jen. i don't see anything being approved this year. i think the s.e.c. put it clear

with the signs of approval. >> vaneck ceowarned of the issues in the cryptocurrency despite describing it as a bull market. >> i think we are just beginning. we have the two supporting the market. the macro overview and the fed interest rates and wanting to stimulate the economy. then the bitcoin internals. the dynamics of the halving in two weeks has been bullish. less so this cycle than prior cycles. i said a year ago it is pound the table time to invest in bitcoin. now we're in a bull market. expect corrections of 20% to 25%. this is a good time for bitcoin from both the macro and internal dynamics. >> this is an asset class that moves on animal spirits.

to have two say we are going to see a correction. >> it is almost a concern if they were overly bullish when they were ridiculous with the targets out there with the people in the space. we all saw how that ended after the run up. arjun will have more from paris when he speaks to the binance ceo richard teng. coming up here on the show, we have a lot more to talk about, including atos outlining how much cash it dmneeds to sta afloat a t dai othrendheetlsn e scue plan. all of the details coming up.

what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

welcome back to "street signs." if you were watching and paying atte attention, you heard me say bp was a positive trader. it expects up stream in the first quarter to be higher than q4 last year. the energy giant sees strong first quarter results in the gas

marketing and trading division. elsewhere, troubled i.t. firm atos announced the financing plan saying it needs 600 million euro in fresh cash. charlotte has been following the story and brings us the latest. it was a great day yesterday for atos. not today. >> they were watching the presentation of the financing framework for the full-year results that were delayed several time. loss of 3.4 million euro. a lot of focus for atos on the debt pile. they have to pay 3.65 billion euro by the end of 2025. all eyes on this and the framework they are proposing there. 1.2 billion euro of financing. 600 in cash. 3 million in new revolving credit and 300 million in

additional bank loan guarantees. the existing stakeholders of air atos and the third-party plan. you mentioned butler industries is joining the top shareholder with the rescue plan for the company which sends the shares higher yesterday. there are a lot of questions which they can present their plan by the end of the month. the plan presented by atos this morning is 450 million euro where the french government will participate. the french ministry saying this extra financing into atos is temporary and gives them a greater say in atos. atos, in particular, with the french military and paris 2024 games is providing cybersecurity

and i.t. services. one company that was one of the champions of the tech ecosystem in france is in trouble. six ceos in the last six years. hoping to come to agreement by july of this year with the creditors based on the framework. a volatile session for atos. they opened higher this morning. they are now back in the red with the shares down 4% on the stock which is down 80% over the past year. >> you can feel the pain of shareholders. thank you, charlotte. the ecb's latest banking lending survey has found corporate loan demand declined in the first quarter contrary to expectations. in the second quarter, banks see tighter standards for corporates and households set to see an increase for them as well. elections for the european parliament are two months away and parties are ramping up the campaigns ahead of the vote.

the far-right group has told cnbc the goal for the election has become a viable opposition as the party continues to gain momentum across europe. silvia has more with the story. >> good morning. we are paying more attention to the european parliament elections as we approach the key voting date of june. looking at the polls, a couple of trends emerge. we are likely to see fewer members belonging to green parties at the european parliament. on the other hand, we are expecting to see more far-right politicians added to the european parliament. one of the open questions here to understand the potential success of the far-right lawmakers is if they he can wo together. there are two with far-right politicians and there is an opposition or not toward russia. i had a chance to speak with a

member of the far-right group at the european parliament. i asked what is their approach and policy on russia. >> for my party, i can say the aid package going to ukraine and it doubled france, italy and spain put together. all of these pro-european forces with the russian policy means they should step up to the plate and donate. >> he is actually suggesting that when it comes to understanding what are the plans when it comes to russia and this is a matter of national competence. the open question is whether we are going to see them working together. let's see if that is the case if they will gain more seats in the european parliament. this is a trend as we approach

the elections. let's how it plays out. >> thank you, silvia. coming up on the show, gold and all that glitters not gold. gold is looking for a new high of 2,356. it is sitting below that right now. it hits new highs almost every night. i think it is up better than equities so far this year. up 17% in the last year. we will talk about the commodities super cycle later on. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i was printing out labels and saving money. shipstation saves us so much time. it makes it really easy and seamless. pick an order, print everything you need, slap the label onto the box, and it's ready to go. our costs for shipping were cut in half. just like that. shipstation. the #1 choice of online sellers.

go to shipstation.com/tv and get 2 months free. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call

coventry direct today at the number on your screen, or visit coventrydirect.com. what is cirkul? cirkul is the fuel you need to take flight. cirkul is your frosted treat with a sweet kick of confidence. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul is your gateway back home. so what is cirkul? it's your water, your way. cirkul, available at walmart and drinkcirkul.com.

welcome back to "street signs." i'm frank holland with the lovely mandy drury. u.s. treasury yields touch four-year highs as traders look to the inflation print as jpmorgan chase's ceo dijamie din warns that inflation may be

stubborn. and atos needs fresh euros to tide it over until 2025. ethereum prices are jumping in the last month after the etf applications should be approved soon. we will speak with the ceo of binance at 11:30 cet. and prices of gold hitting another all-time high this morning. the 15th record, frank, this year. okay. let's look at the european markets. the european markets on the whole giving back the gains they made yesterday. what goes up must come down. that's the law. you have the ftse 100, the leader here on the screen.

part of the reason is we are seeing good gains for oil majors and basic resources. for example, bp is one of the companies moving to the upside today after it gave positive outlook about its first quarter. all of the others you can see on the board, including the dax and cac 40 down .40% or more. let's move and take a look at the forex board. one of my favorite subjects in the world. the dollar is moving lower against the swiss, but is higher against the euro. euro/dollar is 108.52. we dipped below the 108 mark. now we're back above it. this is ahead of the ecb later on this week on thursday where we will pass anything on over what they say like june being the liftoff of the easing cycle.

dollar/yen is 151.90. that is the line in the sand at 152. that doesn't mean we will see intervention by the japanese authorities. if we see a strong print from the u.s. cpi and a further push higher in the yields, that could mitigate the intervention by the japanese authorities. they are out there trying to verbalize. the intervention might just do the trick. let's move over and look at the european yields and treasuries. we have the bund at 2.4%. gilt is over 4% there. in italy, 3.75. the u.s. treasuries here with the u.s. ten-year note with a push higher in overnight trade

for government bond yields. people are really continuing to question how much the fmoc will cut rates this year. we are back below the 4.4% for the ten-year yield. if we see a push above 4.4 from the technical and psychological point of view, that could provide some headwind for the stock market. we have to wait and see. the multimonth highs in the u.s. yields is something we need to keep a watch on. cpi will tell us all. as for the u.s. futures, no real commitment here head of the cpi number and ecb. it looks how it closed overnight. it is mixed there for the u.s. markets. frank. >> can i say okley dokley? jpmorgan chase ceo jamie dimon telling investors in the

latest shareholder letter that he believes artificial intelligence could be as impactful on humanity as the printing press and electricity and the computers. the banking giant put a.i. in a list of topics most likely to affect his business. a.i. above inflation and climate change and regulation. and elon musk thinks a.i. will take over human intelligence next year. speaking at the norgus bank conference, he believes it will top humans by the end of the decade. arjun kharpal spoke about it at the conference. >> you look at it as a value of the company and you see a $2.4 trillion as of today and you look at the core technology and enterprise dominates the spend. most enterprises are just

starting. they don't have things in production. i would say that there is hype and there's most enterprises still trying to figure out how to kick it around the lab to production. there is attention there. i think there is a lot to go. a.i. is here to stay. no doubt about it. we'll see how far this goes once businesses start putting things into production. >> is there consolidation ahead particularly on the large language model front? we have seen a ton of companies come out with their models. that can't last. >> the cost of building those things are high. you have to find out where to get the return of the investment. whether you are building a llm or a chip, it is costly. you will start seeing some amount of consolidation due to that and where you can pull your

resources together create the next version of something competitive in the market. for the gold bugs out there, this is their year. dpold gold prices on a tear and settling on an all-time high. precious metal 15th record close of the year. arabile, gold looks like it is continuing for another year. >> it looks that way. year-to-date is an 18% uptick in price. gold is up 14% for the year. $2,357. that is not a mark we he would have noted in the year. i think one of the key things is when i spoke to the analyst who comes on the show, i note that this year could see a continued uptick.

why? some of the data points toward it. u.s. manufacturing growing for the first time in 18 months. that's data from last week. so, too, is china manufacturing activity. expanding for the first time in six months. german industrial data from yesterday rose more than expected. if manufacturing has bottomed out in the major markets in the world, does that mean demand for metals picks up which could push the prices higher? the inflation impact could be another story. significant gains this year for spot gold. if you look at the oil prices, we have seen similar uptick. escalating tensions from the middle east and you have seen the ongoing production cuts from opec plus. so much so, russia is planning to extend their cuts further which could send the rises higher. easing of the u.s. production is playing into wti. you see an increase in the

trading picture above $90 for brent. $86 for wti. you see the increase with brent crude at $75 at the start of the year and now above $90. copper is another interesting one. despite cocoa costing more than copper, this is moving higher over the last couple months. really the spike higher has been very interesting. a bit of a drawdown to .13%, but over the last month, copper has gone higher. you do use twice as much copper in ev production than the norm vehicle. the strong german datta and the numbers from china. let's talk about the price targets. this is what you get from the gold price. bank of america saying $2,400 is the price they priced in if the

fed had started to cut rates in the first quarter. that didn't happen. if it happens later on in the year, they still say that it could still be the price they are looking at here. it doesn't look too far away. $2,357 right now. speaking to the lenders, jpmorgan chase and goldman sachs pointing toward the $100 mark for brent crude oil. that could be there. morgan stanley and bank of america and ubs around the $90 a barrel mark. here is the copper price. goldman sachs saying a 65% increase of copper by 2025. they believe the deficits in the second quarter will push the market just a little bit further. interesting uptick is the commodities cycle which we anticipate. could there be further gains? that is what the market is

pointing toward, mandy. >> arabile, i don't know about you, but i would rather eat cocoa over copper. let's bring in the managing director here. >> good morning. >> arabile laid it out and asked pertinent questions. the hopes of the rebound in the global manufacturing cycle for copper. you can see we are still bottoming. do we have more room to run for the metals? >> we are at the stage of the industrial metals. it has been a fantastic story. suddenly the rest of the world is trying to catch up and we see spending. we haven't had investment in the supply side. that is causing the pressure. i think there is a long-term positive story here. the global manufacturing data

has tractattracted investment i asset class. >> how much is hinging on the chinese recovery? there are parts of the economy which are languishing in the dark like the property. developer led property sector. there are other areas, the high tech sector and green transition sector, starting to see green i. in the past few days, we have seen a push there. you have seen the fiscal impulse in china delayed by the problems at the local government level. china has pushed hard into clean technology. we talked copper. arabile mentioned evs are more copper intensive. these are the areas china is leading in. exports the metal growth. >> both in europe

reshoring is a bigger issue. you said restocking is a bigger issue, but will it pick up as government goes from just in time inco inconvventory to a ne? is that a big tailwind? >> at the moment, we are not restocking yet because we're only getting to the peak of the rate cycle. >> that's where the trend is going. >> that's right. we see it more into 2025 as the story. typically, you need to see order books improving. i would say over the data points mentioned, we are starting to see it. one interesting point. we had absent in commodities for 20 years is developed governmentsgovernment governments buying them. >> arabile laid it out. as the countries continue to

have more just in case inv inventory, the supply chains will normalize. there has to be a ceiling in your mind. nothing goes to the sky. >> we talk about the commodities markets self solve. if we can't solve it from the supply side, guess what? demand. that's what inflation does. that's what was under performing the last year. copper gets four times the aluminum price. that is why i see high copper price targets out there. we could reach them temporarily. then you would see demand adjusting. >> in the u.s., the cure for higher prices is higher prices. one other point. 51% of the countries you track are in manufacturing expansion. is that a trend up or willthat stall? we have seen consumption at high levels over the last few years.

what would drive consumption higher to get past 51%? >> i think it is coming back to the old economy. machine upgrades and productivity gains. it is infrastructure. global grid spending is a big driver. >> gold is grabbing the lion's share of the headlines. we shouldn't sneeze over the industrials. i'm fascinated with gold and if you think it is topping or if people are looking for alternatives which cannot be be printed or stolen. it has been around for 6,000 years. >> we talk about china about industrial metals. shanghai gold was at the two-year high yesterday. where do you put your celmoney? people need to see a big allocation from china and as we see the other markets trying to

diversify, they are creating a tailwind. dpo gold is above our price target. we see a bit of consolidation. as we move to the elections, the pre pressure of currencies come back. >> 40% of nations are having elections this year. a lot of potential for volatility. i want to go back to copper. copper is a read on house in the u.s. how will housing impact copper prices and demand in europe? >> we see weakness. europe is the weak man of the industrial economy. we have seen weak demand. the european union can get 480 billion euro to upgrade the grid. all of the investment in a.i. and data centers is an intensive spend. >> this is the theory. what about the practice? how do we put the money to work?

which stocks are you looking for and which have a good runway? >> interesting. i mentioned that china is coming back to life. we have seen it. china is okay. we will get the old-school economy fiscal impulse coming through with the special purpose bonds issued. copper is a core holding. i would say i like to see the fundamentals catch up a bit to the price. you mentioned dpgold and silver. the solar technologies are more silver intensive than the sales dominating today. we do see industrial tailwinds. >> thank you for joining us. you have an exciting patch so far this year. colin hamilton, with bmo. coming up on the show. cease-fire talks continue in

cairo as prime minister benjamin netanyahu looks to double down on the offensive. we'll have more next. what i ul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free

my name is oluseyi and some of my just li favorite moments throughout my life are watching sports with my dad. now, i work at comcast as part of the team that created our ai highlights technology, which uses ai to detect the major plays in a sports game. giving millions of fans, like my dad and me, new ways of catching up on their favorite sport.

welcome back. tsmc secured $6.6 billion of grants and $5 billion in loans under the chips act. this will mean the taiwanese firm will expand the arizona firm. it will bring global advanced chip manufacturing to the country bry 2030. gina raimondo said the investment is significant for the semiconductor ambitions. >> a.i. runs on 2 nanometer. right now, the u.s. makes zero of the chips in america. tsmc will make them in america at scale. it is good for the economy and national security. you can't be a great nation if

you buy all of your leading edge chips from one company in a foreign country. >> andsamsung is set to receive $6 billion subsidy from the u.s. government to expand the plant. it will double the factory from the agreement. and turning to congress. it is back in session today after the two-week holiday recess. they are facing debate over aid to israel and ukraine a and taiwan. we have drew petrimeaux with more from washington. >> reporter: house republicans impeached mayorkas in february.

there will able short trial with the republicans taking to the senate floor yesterday to make the case for a full trial. 67 votes are needed for conviction. with the democrats in control of the senate, it is almost certain to fail. in the house, members return today and funding for ukraine, israel and taiwan take center stage. the senate passed a funding bill two months ago, but the house has yet to take it up. it puts mike johnson at odds with thehard-right members of the party. marjorie taylor greene introduced legislation to remove johnson from his seat, but did not force a vote. lawmakers will look to rebuild the baltimore key bridge. president biden promised the federal government to play a key role in that. the repairs are expected to cost $400 million. both chambers are looking to

reauthorize fisa which allows the government to target su surve surveillance. the program expires this month. the vote has failed twice because republicans want reforms to the program, but dis. >> disagree on the reforms. frank. >> drew, a few weeks ago, the senate passed $95 billion foreign aid package. you mentioned the house speaker on a short rope. how is that impacting that issue and other issues with foreign aid? >> reporter: you know, there is a consensus in congress and in the house for passing the foreign aid. there are issues for speaker johnson with the slim majority in the house. one or a few members could move that to oust him. it is important to note here that while marjorie taylor greene did file a motion to vacate, she did not force a

vote. it seems for now there may be a path forward to speaker johnson passing the foreign aid and keeping his post. with the very tenuous margin, things are on a razor's edge. >> thank you, drew. joining usfrom nbc news. live in washington. oral arguments from germany are under way as the hague is continuing the hearings with the case from nicaragua by providing arms and support to israel. turkey will impose restrictions on israel until a cease-fire in gaza is called. this is after they declined to take part in the aid drop. hamas officials are studying

the cease-fire proposal, but they said the plan did not meet the demand of palestinians. the comments come as the israeli prime minister benjamin netanyahu says securing a victory includes an offensive in rafah. netanyahu said the country remains committed to achieving its goals. >> translator: today, i received detailed reports on the talks in cairo. we are working all the time to achieve our goals. the release of our hostages. this victory over hamas will happen. there is a date. before we finish the show, let's look at the bread and butter. the european markets. bring up the big board. it is similar to a half hour

ago. ftse 100 is the outperformer. the other markets are losing steam. dax is down .60%. cac 40 in france is down .50%. keep in mind in absolute terms, the markets in europe are not far from record highs. yesterday was a pretty good day after we got the better than expected german industrial numbers which added to the global manufacturing has bottomed and things heading in the right direction from here. as for u.s. futures, no clear direction after we closed mixed. a bit of wait-and-see holding pattern. >> for mandy and i, have a great day. i'm frank holland. mandy, the talented, drury. thank you. energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at

walmart and drinkcirkul.com. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. switch to shopify and sell smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch

to shopify. shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free

her uncle's unhappy. i'm sensing an just liunderlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for.

it is 5:00 a.m. here at cnbc global headquarters. 10:00 a.m. here in london. i'm frank holland and here is your "five@5." investors getting set for the cpi report come and others fighting for direction at the open. this is called a no-landing scenario for the fed. why morgan stanley and jim cramer said don't hold your br breath. key to commodities is pushing in record territory and why u.s. regulators are asking fo